One of the reasons I wanted to do this challenge again this month is because I bought the family a new TV. (Thank you, lippy business!) I also wanted to pay off my son’s Invisalign. Tightening the purse will help me accomplish these goals!

What is a no spend challenge?

Obviously, unless you live off the grid, own a farm and are completely self-sustaining and have opted out of the money economy, it’s impossible to completely stop spending. So in a nutshell, a no spend challenge is when you stop spending on anything discretionary.

The following categories are generally safe during a no spend challenge:

Groceries. Duh. Ya gotta eat.

Gasoline (unless you’re driving to Target or Starbucks. Ha!)

Monthly bills – gots to keep the lights on, yo

Needful things such as toilet paper, haircuts for dudes, new shoes for the kiddos, health care

Business expenses

That being said, there are still ways to spend less in these areas. While you’re at it, revisit these items.

Ideas:

Have a budget meeting with the spouse and look for ways to slash so-called fixed costs.

Use up food in your freezer and pantry! Take an inventory and challenge yourself to make creative meals and buy fewer groceries. More on lowering your grocery budget here.

Books (I shed a little tear typing that! Use the library, read books you own and haven’t yet read, or reread!)

Beauty and personal care, cleaning products – most of us have plenty of these around if we do an “under the sink” inventory.

Nik-naks, Target runs, anything not necessary. 😉

Staying motivated for your spending fast is important. You might want to find an accountability partner. Having a strong, motivating goal is essential in my opinion. I think it’s also ok to reward yourself at the end of the no-spend period. I plan on taking myself for a mani-pedi!

I’ll be checking in to let you know how I personally do during the month! Also, if you aren’t already, please follow me on Facebook. I do live videos daily on there and will be sharing how it’s going for me. I’d love if you watched and commented!

If you need some serious hand-holding with changing your finances, including getting out of debt, I recommend Anna Jones’ Spending Fast Bootcamp! I love this course, and Anna’s book, the Spender’s Guide to Debt-Free Living. It’s a little like Dave Ramsey’s Financial Peace University, but way cooler. 😉